We tend to associate complex event processing (CEP) technologies with hedge funds that want to process multiple data streams to support algorithmic trading processes. But Finance Tech notes that more recent CEP projects focus on risk management. The holy grail seems to be truly real-time, deep analytics, not just batch process-like cuts of data.

Here's an example: Customers of Progress Apama are using its CEP technology in real time to "detect 'fat-finger' errors, check for decimal points in the wrong places, apply real-time compliance rules, make sure the firm is not over 6 percent of an actively traded market," general manager John Bates tells the magazine. Risk management is one area that will likely withstand the inevitable budget pressure on Wall Street firms. So you can count on this as a growth area.  

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